The $20 million scheme behind a prominent short seller's downfall
Watch as Patrick Boyle examines the federal fraud charges against Andrew Left, an activist short seller accused of orchestrating a long-running market manipulation scheme.
The U.S. Attorney’s Office in Los Angeles has charged Andrew Left with multiple counts of securities fraud. According to the indictment, Left allegedly worked with hedge funds to 'short and distort' stock prices, reaping profits of at least $20 million.
The allegations suggest Left used public commentary to claim companies were misvalued, often providing a 'target price' while misleading the market about his true economic incentives and Citron's trading positions. Left gained significant public attention in 2021 during the GameStop short squeeze.
